February 24th VeleroDAO Launches IDO Exclusively on VelasPad

February 21, 2022
Stablecoin , Velas Army Original
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February 24th VeleroDAO Launches IDO Exclusively on VelasPad

Well, the long-awaited and significant moment for our community and us is coming very soon: VeleroDAO is coming to Velas Launchpad, where we are holding IDO on February 24. We would like to briefly remind you who we are and why we created our project. We will also tell you about our plans and how IDO will happen. We ask you to share this article to grow our community and have a grand IDO!

What is VeleroDAO?

VeleroDAO is a full-fledged fork of MakerDAO that works on Velas Blockchain and the protocol behind the USDV stablecoin — crypto that maintains the $1 value. Velero has improved the Maker`s auction system, has made it even more convenient and accessible. VeleroDAO ecosystem consists of USDV stablecoin and its native DAO token VDGT. The balance of the system is maintained by these two components as well as smart contracts and community voting.

What problems does VeleroDAO solve?

Velero proceeds from the demand experienced by Velas users: they need a stablecoin similar to DAI and the opportunities Maker gives to users of applications on Ethereum.

How does VeleroDAO fit in the current ecosystem?

VeleroDAO is the first stablecoin on the Velas blockchain.

Velero native token utility

VDGT is the governance token and a source of recapitalization of the VeleroDAO protocol. VDGT tokens are a tool of influence in the VeleroDAO community and serve as the network recapitalization source. With the VDGT token, VeleroDAO community members can do these things:

  • Community management
  • Participating in recapitalization by creating new coins when the network needs them
  • Participating in liquidation auctions
  • Acting as a lender
  • Taking a loan.

Roadmap

For the current quarter, we are planning to implement these features to our protocol:

  • Frontend for internal staking
  • Liquidation module changes
  • Adding new types of collateral
  • Launch of the internal exchange
  • Creation of a market maker bot
  • Adding “multiply” to vaults.velero.finance

All about the IDO

IDO Date: Thursday, February 24

Staking Eligibility Cutoff: Thursday, February 24th, 5 AM UTC

Public Sale Token Price: USD 0.005

Allocation Round Opens: Thursday, February 24th, 8 AM UTC

  • #VelasPad FCFS Round: Thursday, February 24th1 PM UTC

Listing on WagyuSwap: Thursday, February 24th, 3PM UTC

Maximum Token Supply: 1,000,000,000 $VDGT

Public Sale: Thursday, February 24th

  • #VelasPad: 40,000,000 $VDGT

Circulating Supply at Listing: 28,000,000 $VDGT

Market Capitalization at Listing: 140,000 USD

Public Sale Vesting Schedule: 20% TGE, 1-month cliff, Linear vesting over eight months.

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